Insider Buying: Methanex Co. (TSE:MX) Director Buys 1,500 Shares of Stock

Methanex Co. (TSE:MX) (NASDAQ:MEOH) Director Dean Richardson bought 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were acquired at an average price of C$50.52 per share, with a total value of C$75,780.00.

Methanex Trading Up 2.3 %

Shares of Methanex stock opened at C$50.77 on Friday. Methanex Co. has a 52-week low of C$49.21 and a 52-week high of C$74.25. The firm has a market capitalization of C$3.42 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 0.44 and a beta of 1.82. The company has a debt-to-equity ratio of 131.58, a current ratio of 1.25 and a quick ratio of 1.59. The company’s fifty day moving average price is C$62.48 and its two-hundred day moving average price is C$64.58.

Methanex (TSE:MX) (NASDAQ:MEOH) last posted its earnings results on Tuesday, July 30th. The company reported C$0.85 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.66 by C$0.19. Methanex had a net margin of 4.06% and a return on equity of 10.21%. The business had revenue of C$1.26 billion for the quarter, compared to analysts’ expectations of C$1.35 billion. On average, analysts expect that Methanex Co. will post 3.7762448 EPS for the current year.

Methanex Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.253 dividend. This is a positive change from Methanex’s previous quarterly dividend of $0.25. This represents a $1.01 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Monday, September 16th. Methanex’s dividend payout ratio is currently 35.07%.

Analyst Ratings Changes

A number of brokerages have recently commented on MX. Barclays lowered Methanex from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Piper Sandler upgraded Methanex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th.

About Methanex

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities.